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So today I finally jumped ship, car is costing me 269 a month for 48 months with option to buy at end of 4 years which I will.
she is a 2018 may 23,000 mile bmw 530e msport, initially for 4 years I have to pay out 3 years of warranty (first is free and bmw warranty includes breakdown and cover car). insurance which is 395 a year fully servicing plan for 3 years i got for free by saying I am walking away, so for first year she is going to cost me say 500 more than motability for whole year, then 800 more after that.. tires, lucky for me my uncle runs his own tire business so that wont be a issue and after 4 years cars final payment is 12,000… Super happy, got a hybrid that will manage the school run and a shopping trip too.
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mike nice looking car , so £12000 in 4 years , what is your millage allowance .
what made you decide to move
have you been with motability for a while
nice car well done ? enjoy it
Lovely car, but you’ll have paid £16500 after the first 4 years (I’ve assumed £400/year for servicing, but in reality it’ll need more spending on it, it’s a BMW).
Then, when it’s almost 7 years old, you’re going to spend another £12k on it, making your total outlay in the region of £29k, with some big bills to come in the future.
I think the Motability model makes more sense for the majority of us.
But the 5 series isn’t on the scheme so if it’s the car you want then leaving the scheme makes sense.
Lovely car mike M enjoy i would love one of them. Green with enyy .
Nice piece of kit, Mike. Looks better than the 3-series. Got to admire BMW’s engine designers (or maybe their software writers?). The 2.0L lump in your 5-series is putting out some 300bhp. In the Cooper S, the same engine does 176bhp. Also finds a home in Toyota Supra and Morgan Plus 4. Great variety of power and application from one displacement.
Well done, I hope more people do the same.
Please send a detailed image to Mr Dick Littleman, Journalist, Daily Mail. Let him seethe.
Well done, I hope more people do the same. Please send a detailed image to Mr Dick Littleman, Journalist, Daily Mail. Let him seethe.
I think that would just result in the DM starting a campaign to get the PIP rates reduced, I can see the headline now, Taxpayers money funding private car sales”.
This assumes that the OP still has his PIP allowance.
I’ve had my saving decimated by becoming disabled 10 years before retirement but had I still had a pretty penny in the bank I would have gone the private way too so best of luck to Mike.
no service costs got that thrown in or i was walking away,, its going to work out 500 odd more a year with 10,000 mileage allowance as i said first year is free, then 3 more years added on for free with a service plan. I will pay for one service in the 4 years, which would not be too bad to keep the warranty good one the batteries.
Then buy buying it, I doubt the 3,237 i save a year will be cost of ins and maintenance for a year, then the 5k every 3 years saved as those extras add up
Well done Mike M. I’ve had several 5 Series over the years and they are absolutely superb. Sadly, nothing on Motability comes even remotely close. I bought a brand new 5 Series in late 2015 and sold it a year ago. It surprised me to work out that it actually cost less to run per year than the Tiguan SEL that we have through Motability. I got £10k discount (25%) as a combination of BMW + BMW Finance + Dealer contributions. The price I paid included a servicing plan (like you) so no servicing costs. My fully comp insurance with protected NCB averaged £330 a year. Road tax was £30 a year. My only other expenditure was 3 tyres over the whole time I had the car. Economy was also 8mpg better than the Tiguan! It’s not an option for everyone and I completely understand why most people on here will prefer the ‘peace of mind’ option that Motability offer, but some of these people fail to appreciate that in addition to the AP they are paying a further £10k in sacrificed benefits (over £16k if they keep the car 5 years). With increasing AP’s and severely reduced choice, I am sure that more and more people will go the same way as you, especially those who are happy with inexpensive cars, where the financial case for Motability is getting less and less. Motability is not the ‘no brainer’ that many people think it is.
Its down to mileage. If you do a lot of miles Motability is unbeatable, if you do few miles the advantage diminishes. It also depends on the value of peace of mind. And only you can put a price on that.
Its down to mileage. If you do a lot of miles Motability is unbeatable, if you do few miles the advantage diminishes. It also depends on the value of peace of mind. And only you can put a price on that.
Very true, although it amuses me that some people get very exercised about, say, a 10k mileage allowance on a PCP, feeling that it completely undermines the case for going private, yet return their Motability cars with less annual mileage than that! My gut feel is that if you do around 20k a year and are very happy with the (limited) choice, then Motability is the best bet. If you do low mileage (say 8k or less) and especially if you opt for an inexpensive car (but are still surrendering the same £10k in benefits), then I’m sure that many could get better value going private. If you do around 10-12k miles a year then I think it’s more borderline than many people think. If happy with the choice offered by Motability then, as you say, the peace of mind that Motability offer is well worth considering. If you want greater choice then there are great deals to be had privately. Looking at quoted PCP rates is misleading as that’s before you negotiate. As I said previously, I got 25% off a brand new factory order BMW, which made a huge difference to the total costs.
Its down to mileage.
Not always down to mileage.
I too have also made the decision to leave the scheme when my current lease expires.
My family’s farming business is placing an order for five new Land Rover Defenders for the managers of our tenanted-out farms, plus one for our head game keeper., So, I have taken the opportunity to ‘tag on’ an order for a Discovery Commercial HSE diesel/hybrid auto, having had one on loan for a month or so between our farms (plus, my brother-in-law has also gone all out for a Range Rover)! Basically, the dealer made us an offer we could hardly refuse.
Since taking early retirement from my day job at Defra late last year, I am spending more and more time on our farms nowadays. So, it makes sense to have a large diesel ‘proper’ 4×4 automatic, to get the wheelchair , plus a couple of ewes or tups in the boot when necessary! Also, to tow the livestock trailer to the mart, or the cattle crush or horse box around when needed. A Motability ‘baby 4×4’ vehicle is hardly suitable for some of these tasks and often our automatic 4×4 Isuzu pick-ups are in use elsewhere.
It will be sad to leave the relative ease and security of the scheme, but for me, like the OP, it is the way to go.
Wow BigDave. If I’ve added that up correctly that’s 8 new cars in total, all high value. So, it’s true what they say then – no such thing as a poor farmer ? I should think that the LR dealer must treat you like Royalty and you will certainly be on their Christmas card list! We also find the choice of mostly baby SUV’s on Motability frustrating, but for very different reasons. I would prefer to stick with Motability but am increasingly finding myself looking ‘outside’ where, of course, there is unlimited choice.
Go you BigDave. Nice one. Taking over from Adam on Countryfile soon?
I feel that the scheme is indeed a ‘no brainer’ for quite a large percentage of Motability customers. The reason is peoples financial situation. An awful lot of people would bot be able to obtain the credit to enable them to buy a car. Many people have given up jobs to care for people and as a result have no/little regular income. On the scheme there are no credit checks, just the ability to chose a brand new car. A car which is often needed for essential travel. For these people the scheme will always be an amazing part of their lives regardless of AP costs, spec levels, waiting times etc etc.
I feel that the scheme is indeed a ‘no brainer’ for quite a large percentage of Motability customers. The reason is peoples financial situation. An awful lot of people would bot be able to obtain the credit to enable them to buy a car. Many people have given up jobs to care for people and as a result have no/little regular income. On the scheme there are no credit checks, just the ability to chose a brand new car. A car which is often needed for essential travel. For these people the scheme will always be an amazing part of their lives regardless of AP costs, spec levels, waiting times etc etc.
For all of those in the positions that you describe then I completely agree that Motability is indeed a no brainer and invaluable.
So, it’s true what they say then – no such thing as a poor farmer
I will be a poor farmer when I have to pay for it!
Plus, the business has an overdraft that would make some countries national debt look small!
Yes, we have a lot of land, thanks mainly to my late father buying other farms when they came up for sale, but it is definitely a case of asset rich but cash poor!
Go you BigDave. Nice one. Taking over from Adam on Countryfile soon?
It depends if they would pay me enough!
Some very interesting views here and I’m all for as much choice as possible. The underlying principle of DLA, and it still exists in PIP, is that it should be a payment which those entitled to it get as cash and they can decide how it is spent.
For me, the ‘clincher’ for using Motability is that, unlike any other lease/credit plan, if my PIP payment is stopped or reduced then I can (in fact must) return the vehicle and the contract is finished. There is no challenge of meeting payments on a lease/credit agreement with a very reduced income. I do realise that this a very risk averse strategy but, especially with the introduction of PIP, I’m very conscious that this payment is in no way guaranteed into the future.Some very interesting views here and I’m all for as much choice as possible. The underlying principle of DLA, and it still exists in PIP, is that it should be a payment which those entitled to it get as cash and they can decide how it is spent. For me, the ‘clincher’ for using Motability is that, unlike any other lease/credit plan, if my PIP payment is stopped or reduced then I can (in fact must) return the vehicle and the contract is finished. There is no challenge of meeting payments on a lease/credit agreement with a very reduced income. I do realise that this a very risk averse strategy but, especially with the introduction of PIP, I’m very conscious that this payment is in no way guaranteed into the future.
That is it in a nutshell @bfoandc, allied with the fact that a change of car mid-term can be arranged under certain circumstances with little financial penalty. Not sure how that would work with a private lease.
It’s definitely a no-brainer for us. Having to care for my partner 24/7 and 3 young children for the past 4 years living on benefits now unfortunately. My credit aligned with the ‘on benefits’ part means my credit score has gradually dropped to a level now when I can’t even get a mobile phone contract let alone a car. And the worse thing is it will only get worse as my partners illnesses worsen. I can’t even imagine what car I would have now if it wasn’t for motobility. We think we are very lucky to have this scheme.
Even though the variety of choice is worryingly shrinking. I can still find a few cars that suit my needs. Almost all the good stuff (3 Series, Giulia, etc) is gone. But I still use Motability. It is a splendid, helpful scheme. Not least because it is “all-inclusive”. The thought of having to contact hordes of phoneline box-tickers for insurance, tyres, tax, AA/RAC etc. fills me with horror. I do not exaggerate. I would find that really traumatic and am eternally grateful to Motability which does it all for me.
Have looked at the private option in the past. Could not find any of them offering similar service AND being over 70 years old, there are a whole range of other traumatic contacts to go through!
The scheme is gilt-edged where worry-free motoring is concerned, no doubt. But its worth noting that new cars already have comprehensive warranties, often include breakdown recovery (at least for a year) and its not costly to subscribe to the RAC or AA even if you have to. Maintenance service packs for 3 years are available for a fee so the only other biggie is insurance. Here, you are in more shaky territory and I haven’t a simple solution.
Its OK on the other side of the fence, not as daunting as some fear. I know because I’m lucky enough to have had a private second car for the missus/ weekend fun for over 2 decades. yes, you have to be proactive, be willing to seek out the best and most competitive suppliers, but I don’t mind. Some dealers have their own ‘just add fuel’ schemes- ALMOST worry free competition for Motability, but not quite. I totally understand not everyone will or can consider options outside the scheme.
If there is a vehicle on the scheme you can live with, Motability has the worry-free concept sewn up.
I think you are the exception to the rule. Unless I have missed something, the requirement to carry two sheep in the back has never been raised before. Mileage, not sheep is the defining decision re private or motability for most people. You can at least calculate that, peace of mind is something economists are not used to dealing with. As too suitability too, how can you put a price on that? Your budget too, and the opportunity presented, make you an outlier. How do you get a pregnant sheep in a car? A lot easier than getting a sheep pregnant in a car. I will miss your contributions, always an interesting ewser and not baaad at finding worthy subjects.
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